OCR Text |
Show FROM SEA TO SEA De Lessops' Panama canal, inaugurated with such a dramatic flourish at the beginning of the year, is in a state of enduring passivity while its protector is feting the rich Hollanders and Belgian and French capitalists, endeavoring to persuade them to subscribe the necessary funds to his mountain-rifted scheme. <br><br> Meanwhile, the "American Provisional Society," which has been engaged for some time negotiating with Nicaragua for a concession, has at last received its franchise from the Nicaraguan government. The concession is signed by Don Adam Cordonas, Minister of Foreign Affairs, and A. G. Monocal, member and commissioner of the Provisional Society. The concession had been duly ratified by the Nicaraguan Senate, and published as law by the republic. <br><br> The Provisional Society, under the terms of the concession, secures the exclusive privilege to construct a ship canal across the territory of Nicaragua. The canal is to be of sufficient dimensions to accommodate steamers of the largest class used between Europe and America and the locks are to be not less than five hundred feet long and twenty-three feet deep. <br><br> The concession is for ninety-nine years from the date of the opening of the canal for general traffic, and at the expiration of that period the Nicaraguan government is to take possession of the canal in perpetuity with the right reserved to the Company to lease it for another ninety-nine years. <br><br> During the period of concession, the Company is to have the privilege of constructing a railway along the whole or any part of the canal, also such telegraph lines as it deems necessary for the construction and working of the canal, and these lines shall transmit public messages free. The government of Nicaragua will declare the terminal ports and the canal itself throughout its length to be neutral, and that transit, in case of war between other powers and Nicaragua, shall be uninterrupted. The canal shall be open to the free navigation of all vessels, provided they pay the dues and observe the regulations of the Company. Troops of foreign nations and vessels of war will be allowed to pass through the canal under the regulations of existing treaties. Vessels of war belonging to other nations engaged in hostilities with Nicaragua, or any other republic of Central America, will be vigorously excluded. An effort will be made to secure a guaranty from all powers of the neutrality of the canal, and of a zone along it, and of the sea in the vicinity of terminal ports, where dimensions will be defined. <br><br> This concession, with all its advantages and privileges, will appertain to the construction company, and is transferable only to the company which is to be organized by a provisional society, and in no case can it be transferred to a foreign government or power. It is to be organized in the usual manner of such enterprises, with its principal office in New York, or elsewhere, as it may deem most convenient. Its designation will be "The Nicaragua Ship Canal Company." The Company is to be allowed to bring immigrants to Nicaragua freely from all parts of the world, but it is required to bind itself not to interfere in questions which directly or indirectly may effect the public of Nicaragua, and not to give protection to criminal disturbers of the peace. It is exempt from every form of taxation during the period of this concession. <br><br> So far as organization and concessions go the "American Provisional Society" has made a very fair start. The job of raising the necessary funds will not be so easy. And yet it is not only possible, but quite probable, that a ship canal will pierce the Isthmus of Darien at some point in the not distant future.-Burlington Hawkeye. |